Gold prices in Pakistan experienced a notable turnaround on Wednesday, bouncing back after a downward trend observed over the past three sessions.

This resurgence coincided with a global uptick in gold rates. In local markets, the price of gold per tola surged to Rs244,000, marking a substantial single-day increase of Rs2,900.

According to data provided by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 10 grammes of gold reached Rs209,191 following a rise of Rs2,487.

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Internationally, the price of gold also witnessed a rise during the day. APGJSA reported an international rate of $2,365 per ounce, with an additional premium of $20, reflecting an increase of $28.

In contrast, silver prices remained steady at Rs2,650 per tola.

Notably, the local gold market had reached a record high last month, with prices hitting Rs252,200 per tola.

This positive turn comes after a decrease of Rs1,200 per tola observed on Tuesday in the gold prices in Pakistan.